Tips on How to Select Automotive Insurance

| May 17, 2010

Since car insurance is a compulsory coverage, it is important to select auto insurance that best suits your needs, conforms with the state requirements and fits within your budget. There is no need to simply accept the very first insurance quotation that is offered to you. The number of insurance agents and insurance carriers looking for your business may be overwhelming. Don’t let them pressure you. Take your time for you to just be sure you select the right auto insurance.

  • Contact several insurance carriers. Regardless of whether you opt to call an agent on the phone or shop online, its’ best to phone multiple insurance companies in order to receive optional quotes. The more quotes you acquire the better the likelihood of selecting the right motor insurance.
  • Supply identical underwriting information to each insurance carrier. When securing a estimate, in order to truly evaluate your policy, be sure that each estimate is based on the exact same details. Therefore, its best to gather the data ahead of time and submit exactly the same criteria to each company.
  • Review the car insurance company’s economic standing. Ask the insurance carrier for their AM Best rating or Moody’s score. Prior to asking the question, however, visit both websites to determine how they rate and grade the fiscal stability of insurance providers. That way you can decide if the insurance company’s ranking is up to par.
  • Compare and contrast the policies. An apples to oranges evaluation will only hurt you in the long run. When it comes time to select car insurance make certain the policies are being compared on an apples to apples basis. If there are differences in each policy, speak with the insurance professional to view if he can emulate the competitor’s insurance coverage.
  • Understand the claims and policy maintenance processes. Most insurance providers allow their customers to make adjustments online. However, if you are not at ease online transactions, be sure to select a auto insurance company that has a live customer support representative accessible when you need one.
  • Don’t be afraid to ask the insurance provider to reduce the premium. Occasionally you’ll find credits that can be applied to your auto insurance policy that can reduce the premium. Find out if you can find reductions for being a member of AAA, AARP or perhaps a schoolteacher discount. If you don’t ask, you’ll never know.

Tip:

If you have a renters or homeowners insurance policy, you can save money on your car insurance if you place all of your policies with the same insurer.

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Category: Car, Insurance

About the Author ()

Felicia A. Williams is a wife, mother, freelance writer and owner of Tidbits and Stuff.

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